Profund Advisors LLC Cuts Stock Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Profund Advisors LLC lowered its stake in Arthur J. Gallagher & Co. (NYSE:AJG) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,286 shares of the financial services provider’s stock after selling 50 shares during the period. Profund Advisors LLC’s holdings in Arthur J. Gallagher & Co. were worth $852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AJG. Legacy Financial Advisors Inc. lifted its position in Arthur J. Gallagher & Co. by 11.4% in the second quarter. Legacy Financial Advisors Inc. now owns 910 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 93 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in shares of Arthur J. Gallagher & Co. in the second quarter worth $208,000. Sei Investments Co. raised its holdings in Arthur J. Gallagher & Co. by 3.1% during the 2nd quarter. Sei Investments Co. now owns 200,571 shares of the financial services provider’s stock valued at $52,012,000 after buying an additional 6,003 shares during the last quarter. AE Wealth Management LLC boosted its position in Arthur J. Gallagher & Co. by 439.7% during the 2nd quarter. AE Wealth Management LLC now owns 9,100 shares of the financial services provider’s stock valued at $2,360,000 after buying an additional 7,414 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Arthur J. Gallagher & Co. by 3.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 63,539 shares of the financial services provider’s stock worth $16,476,000 after acquiring an additional 1,972 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Insider Buying and Selling at Arthur J. Gallagher & Co.

In other news, President Thomas Joseph Gallagher sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $282.96, for a total value of $4,244,400.00. Following the transaction, the president now owns 329,099 shares in the company, valued at $93,121,853.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Arthur J. Gallagher & Co. news, President Thomas Joseph Gallagher sold 15,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $282.96, for a total transaction of $4,244,400.00. Following the sale, the president now directly owns 329,099 shares in the company, valued at approximately $93,121,853.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Michael Robert Pesch sold 7,100 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $296.20, for a total value of $2,103,020.00. Following the completion of the transaction, the president now owns 33,267 shares of the company’s stock, valued at approximately $9,853,685.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,145 shares of company stock worth $12,622,660. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Barclays initiated coverage on Arthur J. Gallagher & Co. in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $300.00 price objective on the stock. Bank Of America (Bofa) upped their target price on Arthur J. Gallagher & Co. from $255.00 to $265.00 and gave the company an “underperform” rating in a report on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Arthur J. Gallagher & Co. from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Jefferies Financial Group upped their price objective on shares of Arthur J. Gallagher & Co. from $264.00 to $267.00 in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $282.93.

Arthur J. Gallagher & Co. Price Performance

Shares of NYSE AJG opened at $279.33 on Wednesday. The company has a 50 day simple moving average of $285.95 and a two-hundred day simple moving average of $263.36. Arthur J. Gallagher & Co. has a fifty-two week low of $218.63 and a fifty-two week high of $301.04. The company has a market capitalization of $61.03 billion, a price-to-earnings ratio of 56.54, a P/E/G ratio of 2.47 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.04 and a current ratio of 1.04.

Arthur J. Gallagher & Co. (NYSE:AJG) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 19.25% and a net margin of 10.41%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts expect that Arthur J. Gallagher & Co. will post 10.16 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, September 6th. Arthur J. Gallagher & Co.’s dividend payout ratio (DPR) is 48.58%.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.